Schumer urges Trump to block China deals over North Korea

US Senate Minority Leader Chuck Schumer speaks to the press after the Democratic senators' weekly lunch at the US Capitol in Washington, DC, on August 1, 2017. (Photo by AFP)

US Senate Minority Leader Chuck Schumer has called on President Donald Trump to block Chinese investments in the United States in an attempt to force Beijing "to help rein in North Korea's threatening and destabilizing behavior."

Schumer made the remarks in a letter to Trump on Tuesday, urging the US president to use his authority through the Committee on Foreign Investment in the United States (CFIUS) to pressure China by suspending approval of "all mergers and acquisitions in the US by Chinese entities."

"It is my assessment that China will not deter North Korea unless the United States exacts greater economic pressure on China," the top democrat noted. "The US must send a clear message to China’s government."

However, John Cornyn, a prominent Republican on the Senate Intelligence Committee, rebuffed Schumer’s proposal, arguing that the CFIUS was not the right tool for the purpose.

"That’s not specifically the purpose of CFIUS. CFIUS is a national security vehicle to try to make sure that high-tech investments by foreign countries don’t steal our cutting-edge technology," Cornyn said outside his Senate office.

"I’m happy to work with Senator Schumer to figure out what his concerns are," added Cornyn, who has previously called for changes at CFIUS because of China.

This July 28, 2017 picture released from the official Korean Central News Agency (KCNA) on July 29, 2017 shows North Korea’s intercontinental ballistic missile (ICBM), Hwasong-14 being launched at an undisclosed place in North Korea. (Via AFP)

Schumer's request comes amid Washington’s increasing concerns about the threat of Pyongyang’s nuclear and missile programs. The US administration has repeatedly urged China to rein in North Korea.

Washington accuses Beijing of shortcoming in resolving tensions on the Korean Peninsula, while China rejects the allegation and says all sides needed to make joint efforts towards the resolution of the issue.

China is viewed as North Korea’s closest ally, but it has been critical of Pyongyang’s continued nuclear and missile tests.

Beijing censured Pyongyang for the reported launch of the ICBM and called on all sides to observe restraint in response to the test and avoid acts that could escalate tensions on the Korean Peninsula.

“China opposes North Korea’s violations of UN Security Council resolutions and (its actions) contrary to the general aspirations of the international community,” Chinese Foreign Ministry spokesman Geng Shuang said in a statement after the test launch, calling on Pyongyang “to abide by UN resolutions and stop taking actions that could worsen the situation.”

Pyongyang is under mounting international pressure over its missile and nuclear development programs. However, it says it needs to continue and develop its missile force as a deterrent to defend the nation in the face of the United States and its regional allies' hegemony. North Korea accuses the US of plotting with regional allies to topple its government.

US would like dialogue with North Korea at some point: Tillerson

Speaking at a press conference in the US State Department on Tuesday, Secretary of State Rex Tillerson said Washington has no intention to overthrow the North Korean government and would like to “have a dialogue” with Pyongyang at some point.

"We do not seek a regime change, we do not seek a collapse of the regime, we do not seek an accelerated reunification of the peninsula, we do not seek an excuse to send our military north of the 38th Parallel," Tillerson told reporters, referring to a circle of latitude that formed the border between North and South Korea prior to the Korean War.

US Secretary of State Rex Tillerson delivers remarks on August 1, 2017, at the briefing room of the US State Department in Washington, DC. (Photo by AFP)

“We are trying to convey to the North Koreans, we are not your enemy, we are not your threat, but you are presenting an unacceptable threat to us, and we have to respond,” he said. “And we hope that at some point, they would begin to understand that and then we would like to sit and have a dialogue with them about the future that will give them the security they seek and the future economic prosperity for North Korea.”

This is while Tillerson ruled out negotiations in March, saying talks “can only be achieved by denuclearizing, giving up their weapons of mass destruction.”